Office Space - For Sale
3329 University Avenue Southeast-Portfolio Minneapolis, MN 55414
Details & Description
Price: $17,848,912
  • Property Type Office for Sale : Medical
  • Lot Size Acres 0.000
  • Building Sq Ft 53,071
  • Building Price per Sq Ft $336.32
Portfolio of four Medical Treatment Centers in Minnesota. NNN leases with annual rent increases, ranging from 2.75% - 5.00%. (remainder of CPI increase carried forward indefinitely).These locations have operated as Chemical Dependency Centers from 20 to 50 years. All properties have been leased to current tenant for over 15 years. It is extremely challenging to receive zoning approval for chemical dependency centers, making renewal highly likely due to these barriers to entry.One property has a lease signed by BHG with a guaranty by BHG Holdings LLC with 117 locations in 24 states. BHG is the largest network of opioid treatment centers in the U.S.Three properties have a guaranty by Meridian Behavioral Health, LLC. Meridian is one of over 150 companies owned by Audax Group which has over $14 billion in assets.Meridian Behavioral Health is one of the fastest growing, leading behavioral healthcare platforms in the country. Currently, there are 20 locations; 10 operating under Meridian name and 10 operating under New Beginnings. Properties located throughout Minnesota.
Listing Agents
Deborah Vannelli

O: 612-332-6600
M: 612-376-4475
deb@upland.com
While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

3329 University Avenue Southeast-Portfolio

Minneapolis, MN 55414

Listing ID: 302392
Property No Longer Listed
  • Property Type Office for Sale : Medical
  • Lot Size Acres 0.000
  • Building Sq Ft 53,071
  • Building Price per Sq Ft $336.32
3329 University Avenue Southeast-Portfolio  Minneapolis, MN 55414 | for Sale | Photo 1
Description

Portfolio of four Medical Treatment Centers in Minnesota. NNN leases with annual rent increases, ranging from 2.75% - 5.00%. (remainder of CPI increase carried forward indefinitely).

These locations have operated as Chemical Dependency Centers from 20 to 50 years. All properties have been leased to current tenant for over 15 years. It is extremely challenging to receive zoning approval for chemical dependency centers, making renewal highly likely due to these barriers to entry.

One property has a lease signed by BHG with a guaranty by BHG Holdings LLC with 117 locations in 24 states. BHG is the largest network of opioid treatment centers in the U.S.

Three properties have a guaranty by Meridian Behavioral Health, LLC. Meridian is one of over 150 companies owned by Audax Group which has over $14 billion in assets.

Meridian Behavioral Health is one of the fastest growing, leading behavioral healthcare platforms in the country. Currently, there are 20 locations; 10 operating under Meridian name and 10 operating under New Beginnings. Properties located throughout Minnesota.

Attachments & Files

Minneapolis Area Market Trends

Listing Demographics for 3329 University Avenue Southeast-Portfolio Minneapolis, MN 55414

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile 3-Miles 5-Miles
Total Population15,395187,819504,752
Population Median Age323436
Population by Age0-9 Yrs760 (4%)18889 (10%)57392 (11%)
10-19 Yrs2501 (16%)26171 (13%)56941 (11%)
20-29 Yrs6508 (42%)50033 (26%)111691 (22%)
30-39 Yrs1738 (11%)30045 (15%)89915 (17%)
40-49 Yrs816 (5%)16901 (8%)53825 (10%)
50-59 Yrs1081 (7%)18312 (9%)53379 (10%)
60-69 Yrs1170 (7%)15667 (8%)46332 (9%)
70+ Yrs822 (5%)11799 (6%)35276 (6%)
Median HH Income$55,025$59,162$64,995
Total Household Income< 24K1632 (27%)17817 (23%)42869 (19%)
25-49K1057 (18%)14813 (19%)41755 (19%)
50-74K949 (16%)11853 (15%)36799 (17%)
75-99K622 (10%)8445 (11%)26843 (12%)
100-199K1134 (19%)16050 (21%)49537 (23%)
200K+479 (8%)5405 (7%)16862 (7%)
Highest Education LevelNo Diploma4551203229518
Diploma or GED5721603651186
Some College9881634954357
Assoc. Degree222699324435
Bachelors Degree263334939105807
Higher Degree26212724872700
Total Housing Units6,45179,314228,067
--Owner-Occupied2,06930,82699,857
--Renter-Occupied3,80343,557114,807
Owner-Occupied Values< 100K1510654450
100-199K300639621737
200-299K5151075435707
300-399K578646420203
400-499K29326548224
500K+36834939537
Total Working Age Population14,367160,035419,044
In Work Force9,397112,919305,330
Not In Work Force4,97047,117113,714
Workforce Employed8,939106,086289,959
Workforce Unemployed4586,75415,084
Civlian Workforce9,397112,840305,044
Military Workforce079286
Total Households5,87274,383214,665
Family Households1,92631,57294,888
Non-Family Households3,94642,811119,776
Married Couple1,59522,64569,351
Other Family3318,92725,537
Married w/Child4618,98328,484
Single Male w/Child151,0983,256
Single Female w/Child1594,17911,263

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Minnesota4,919,479+85,303,925+75,687,161+55,974,304
Hennepin County1,116,200+31,152,425+121,294,371+91,407,332
Ramsey County511,0350508,640+12567,959+9616,408
Anoka County298,084+11330,844+8358,469+6380,651

Total Working Age Population:

Total Households:

Total Working Age Population:

Total Households:

Total Working Age Population:

Total Households:

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

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Closest Commercial Airports
Airport Distance (mi)
Minneapolis-St Paul International (Wold-Chamberlain Airport) (MSP) 6
Rochester International Airport (RST) 81
Duluth International Airport (DLH) 138